(Ecofin Agency) - Egyptian exports towards South Africa surged by 69% in 2017, the Egyptian trade minister Tarek Qabil (photo) announced last week.

According to information relayed by Egypt Independent, these exports generated $99 million. This is well above the $58.5 million generated in 2016.

According to authorities, this strong performance was driven by higher exports of grapes, polymers, non-woven yarns and calcium carbonate, boosting trade between both countries to $315 million, up 17.5% from 2016 ($268 million).

Let’s note that although imports fell by 14% ($181 million in 2017 against $210 million in 2016), trade deficit between the two countries decreased to $46.5 million in 2017 from $150.8 million in 2016.

Egyptian authorities also hope to boost trade exchanges with other African countries under a recent agreement on the African Continental Free Trade Area (ZLECA), signed in March by more than 40 African countries.

For the record, Egypt announced earlier this month its intention to set up a logistics center in West Africa to boost exports. World Bank indicated in its global economic outlook report issued last January that the country, which is in the midst of economy rebuilding, is expected to grow 4.9% this year.

Moutiou Adjibi Nourou (intern)